In the Quirino-Aquino Partnership, Quirino and Aquino had a capital ratio of 3:1 and a profit and loss ratio of 2:1, respectively. The bonus method was used to record Martial’s admittance as a new, partner. What ratio should be used to allocate, to Quirino and Aquino, the excess of Martial’s contribution over the amount credited to Martial’s capital account? Quirino and Aquino’s new relative profit and loss ratio. Quirino and Aquino’s old capital ratio. Quirino and Aquino’s new relative capital ratio. Quirino and Aquino’s old profit and loss ratio.

In the Quirino-Aquino Partnership, Quirino and Aquino had a capital ratio of 3:1 and a profit and loss ratio of 2:1, respectively. The bonus method was used to record Martial’s admittance as a new, partner. What ratio should be used to allocate, to Quirino and Aquino, the excess of Martial’s contribution over the amount credited to Martial’s capital account? Quirino and Aquino’s new relative profit and loss ratio. Quirino and Aquino’s old capital ratio. Quirino and Aquino’s new relative capital ratio. Quirino and Aquino’s old profit and loss ratio.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 52P

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